Invesco NASDAQ 100 ETF (NASDAQ:QQQM) Hits New 1-Year High – Here’s Why

Invesco NASDAQ 100 ETF (NASDAQ:QQQM)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $297.33 and last traded at $297.02, with a volume of 1680566 shares. The stock had previously closed at $294.21.

Invesco NASDAQ 100 ETF Trading Up 0.4%

The firm has a market cap of $88.69 billion, a price-to-earnings ratio of 31.95 and a beta of 1.21. The stock has a 50-day moving average of $263.01 and a two-hundred day moving average of $256.53.

Invesco NASDAQ 100 ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were given a $0.3277 dividend. This is a positive change from Invesco NASDAQ 100 ETF’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, March 23rd. This represents a $1.31 dividend on an annualized basis and a dividend yield of 0.4%.

Hedge Funds Weigh In On Invesco NASDAQ 100 ETF

A number of hedge funds and other institutional investors have recently modified their holdings of QQQM. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Invesco NASDAQ 100 ETF by 3,234.6% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,098,047 shares of the company’s stock valued at $783,561,000 after purchasing an additional 3,005,140 shares during the period. Vantagepoint Investment Advisers LLC acquired a new position in shares of Invesco NASDAQ 100 ETF in the 3rd quarter valued at $538,021,000. Principia Wealth Advisory LLC boosted its position in shares of Invesco NASDAQ 100 ETF by 1,615.9% in the 4th quarter. Principia Wealth Advisory LLC now owns 954,798 shares of the company’s stock valued at $241,488,000 after purchasing an additional 899,154 shares during the period. Bouchey Financial Group Ltd boosted its position in shares of Invesco NASDAQ 100 ETF by 68,507.2% in the 4th quarter. Bouchey Financial Group Ltd now owns 587,964 shares of the company’s stock valued at $148,708,000 after purchasing an additional 587,107 shares during the period. Finally, Meitav Investment House Ltd. boosted its position in shares of Invesco NASDAQ 100 ETF by 25.3% in the 1st quarter. Meitav Investment House Ltd. now owns 2,576,146 shares of the company’s stock valued at $612,143,000 after purchasing an additional 520,102 shares during the period.

Invesco NASDAQ 100 ETF Company Profile

The Invesco NASDAQ 100 ETF (QQQM) is an exchange-traded fund that is based on the NASDAQ-100 index. The fund is passively managed to track a modified-market-cap weighted narrow index of 100 NASDAQ-listed stocks, excluding financials. QQQM was launched on Oct 13, 2020 and is managed by Invesco.